Morning Business Headlines

Thursday, December 5, 2013 11:05 AM

Hackers tapped 2 million passwordsCNNMoney: Hackers have stolen usernames and passwords for nearly 2 million accounts at Facebook, Google, Twitter, Yahoo and others, according to a report released this week. The massive data breach was a result of keylogging software maliciously installed on an untold number of computers around the world, researchers at cybersecurity firm Trustwave said. The virus was capturing log-in credentials for key websites over the past month and sending those usernames and passwords to a server controlled by the hackers.

Economy expanded in third quarterBloomberg: The economy expanded in the third quarter at a faster pace than initially reported, led by the biggest increase in inventories since early 1998. Consumer spending slowed. Gross domestic product climbed at a 3.6 percent annualized rate, up from an initial estimate of 2.8 percent and the strongest since the first quarter of 2012, according to a report from the U.S. Commerce Department. The median forecast of 77 economists surveyed by Bloomberg predicted a 3.1 percent gain.

Unemployment claims fell last weekReuters: The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, according to U.S. Labor Department data released today. Initial claims for state unemployment benefits dropped by 23,000 to a seasonally adjusted 298,000, declining for a third straight week. Economists polled by Reuters had expected first-time applications to rise to 325,000 last week. The four-week moving average for new claims, which irons out week-to-week volatility, fell 10,750 to 322,250.